1.3 and 1.4 Business Quizs

Tactics

• Long-term goals to achieve success.

• Short-term actions needed to implement the strategy.

• General principles guiding decisions.

• Comprehensive plans for future growth.

Objective

• A target that is measurable and has a given timescale.

• A vague goal without a specific deadline.

• An aspiration that cannot be quantified.

• A long-term vision without any metrics.

Aim

• A short-term goal that is easily achievable.

• A long-term goal that determines the objectives an organisation sets itself.

• A specific task assigned to an employee.

• A method of evaluating employee performance.

Niche

• A small segment of a market.

• A large segment of a market.

• A type of advertising strategy.

• A method of product distribution.

Ethics

• Moral principles that govern a business’s behavior.

• Legal regulations that dictate business operations.

• Financial strategies for maximizing profit.

• Cultural norms that influence consumer behavior.

Target

• A specific goal or objective that is aimed for by a business.

• A random selection of products to sell.

• A method of advertising to increase visibility.

• A financial report summarizing expenses.

Budgets

• Financial plans setting out a business’ future revenues and expenditure.

• A record of past financial transactions.

• A summary of a company's assets and liabilities.

• An estimate of future sales based on historical data.

Ethical Behaviour

• Conduct that is consistent with what society and individuals typically think are good values.

• Actions that are primarily motivated by personal gain.

• Behaviors that are legal but may not be morally right.

• Decisions made without considering the impact on others.

Social Responsibility

• A philosophy under which businesses consider the interests of all groups in society as a central part of their decision-making.

• A strategy focused solely on maximizing profits for shareholders.

• A practice where businesses ignore environmental concerns for economic gain.

• A method of marketing that emphasizes social media engagement.

Labour Productivity

• Measures the output per time period of an employee.

• Measures the total hours worked by an employee.

• Measures the number of employees in a company.

• Measures the total revenue generated by a company.